1. Field of the Invention
The present invention generally relates to the field of applications for mobile devices and more particularly to systems and methods for conducting credit card transactions through mobile devices.
2. Discussion of Related Art
Sale points that allow customers to purchase products and services using the customers' credit cards are usually stationary. Credit card based monetary transactions are usually carried out by systems that can either read data from a magnetic strap attached to the card enabling the system to read details of the card for identification or by mechanically inputting the card number and other card details such as the name of the card owner and the expiry date of the card, which are usually printed or engraved on one surface of the card as well as the Card Verification Value Code (CVV or CVC) which is usually printed or engraved in the back surface of the card.
Mobile sale points can be achieved by allowing using mobile devices such as cell phones, PDA devices etc. for managing transactions using customers credit cards.
The following patents and patent applications are incorporated herein by reference in their entirety:
U.S. Patent Publication No. US20050009564 discloses a communication system that enables addition of a function for use of credit card settlement services to a portable information terminal. In this system, if a user brings his credit card close to the portable information terminal, the portable information terminal reads a card ID stored in a contactless IC card provided in the credit card. Then, the card ID is transmitted to a card management system which checks whether or not the card ID is valid. If confirming that the card ID is valid, the card management system instructs the portable information terminal to write the card ID thereto. If the user places an order of a merchandize, the card ID written to the portable information terminal is provided therefrom to use credit card settlement services.
WIPO Publication No. W003047208 discloses a method of transacting financial transactions using a handheld internet network data enabled wireless device. The method comprises: receiving transaction information from the wireless device, forwarding the transaction information to a financial transaction server for processing; receiving information from the transaction server on the successful processing or otherwise of the transaction and sending information on the successful processing or otherwise of the transaction to the wireless device. The steps of receiving and sending information to and from the wireless device are conducted using an internet network data protocol. The wireless device has a unique identifier which is transmitted to the server.
WIPO Publication No. W02005066907 discloses a system in which financial transactions are authorized over a mobile phone by recording the data required for a transaction in a secure database, registering the users phone number, and registering a PIN differing from the users other PINS to authorize a transaction only from the registered phone number. Limitations may be placed on the type of transactions available from various phone systems.
Korean Patent Document No. KR20020011052 discloses a mobile system having a fingerprint sensor added to a conventional internet terminal such as a PDA, a smart phone, a notebook, where the system enables a user to make a credit card payment without a credit card by using a member ID, a password and a fingerprint data. The user purchases a commodity at an affiliated store and makes a credit card payment, the system installed at the store performs steps of making an access to the internet, enabling the user to select a credit card company or a bank, inputting an identification number or payment amount, inputting fingerprint data, requesting an approval to a server of the selected credit card company, receiving the approval result, and printing a payment slip.